Savannah Resources has announced promising assay results from the Barroso Lithium Project, Europe’s largest hard rock lithium deposit.
The initial assay results from Phase 2 of Savannah Resources’ Definitive Feasibility Study drilling programme at the Barroso Lithium Project have confirmed a zone of higher-grade mineralisation at the Pinheiro deposit.
Savannah Resources shares were trading marginally higher at the time of writing.
Works are ongoing. Six drill rigs are currently active across the Pinheiro, Reservatório and Grandão deposits, with 48 holes completed to date, totalling approximately 4,817 metres of the planned 13,000-metre programme.
Lithium assays have been received from 20 holes.
At Pinheiro, recent drilling has revealed pegmatite widths that are thicker and contain higher lithium grades than initially modelled. Notable intersections include 26 metres at 1.40% Li₂O from 70 metres depth and 29 metres at 1.33% Li₂O from 47 metres depth.
These results confirm that mineralisation continues along strike to the north and south in both the Western and Eastern pegmatites.
Activity at the Reservatório deposit has revealed reasonable lithium grades, with significant intersections including 23.1 metres at 1.28% Li₂O from 99 metres depth and 20 metres at 1.06% Li₂O from 127 metres depth. The company said that their findings reinforce confidence in the existing geological model and current JORC-compliant Resource estimate of 4.2 million tonnes at 0.94% Li₂O.
Initial results from Grandão have confirmed shallow mineralisation extensions, with one hole returning 9 metres at 1.38% Li₂O from just 2 metres depth.
“These initial results help to reiterate our confidence in the grades and tonnages of the existing JORC Resource estimates for these orebodies,” said Savannah’s Technical Director, Dale Ferguson.
“Through this drilling, which will significantly increase the database we have, we expect to be able to upgrade much of the existing Inferred Resources into the higher Indicated and Measured categories. This in turn will allow us to capture as much of the resource into the Project’s maiden JORC Reserve statement as possible as part of the DFS study.”
Activity at the project will continue, and Savannah will release further updates in due course.
“The team and I look forward to reporting further results over the coming months as we move towards the production of new JORC Resource estimates for these orebodies as part of Project’s DFS. Busy and exciting times lie ahead for Savannah,” Ferguson said.